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't an accord in congress. >> we will always have china. manufacturing pmi data from last night is the best in 21 months. can we finally say the chinese economy has been stabilized. >> but of course, we start in washington. as you know, congress comes back today. the house gaveling into session now with legislative business starting at 10:00 a.m. the senate returns at 11:00 a.m. eastern. there are only a few hours left to get a deal done. eamon? >> you're already hearing people talk the way they talk on new year's day. a lot of people wish they could go back in time and do things differently. that's the way people are talking in washington about this fiscal cliff. feeling as if this thing suddenly got off the rails. take a listen to mitch mcconnell last night talking about the pace of the negotiations here and the frustration that he's experienced going through all of this over the weekend. take a listen. >> now, i'm concerned about the lack of urgency here. like we all know we're running out of time. this is far too much at stake for political gamesmanship. we need to protect the american
. >> in shanghai in china they sang an alternative version of auld lang syne. >> and in hong kong a more familiar one. ♪ auld lang syne ♪. >> a sum >> holman: a somber mood prevailed across india on new year's eve, as the country mourned the victim of a gang rape. celebrations were scaled back after the 23-year-old woman died on saturday at a hospital in singapore. the attack on her has triggered mass protests in india. today, amid candlelight vigils, there were more calls for tougher rape laws. . >> we have all decide tad that we will not sell brat new years because this year we have lost a sister from amongst us. and whenever we lose someone of our own, or that person passes away we mourn for them. this time we are spending new year's in mourning >> holman: six men have been arrested and charged with murder in the attack. former president george h-w bush is showing signs of improvement. over the weekend the 88-year-old was moved out of intensive care at a houston hospital, where he'd been fighting off a fever. the 41st president was admitted on november 23 with what began as a bronchitis-re
markets around the world were closed for christmas, and for the day after christm christmas. china, five-month high on the notion that the urbanization plan will gain spurs in the housing stocks there. japan, abe confirmed as prime minister there. the seventh prime minister in the past six years. we did see the yen hit a 20-month low against the u.s. dollar. notable lows against the euro as well. the topics in the nikkai the lowest in nine months. >> going back to his old job, that he had back in 2007. strange in and of itself. i wonder how long it will take for people to start talking about netflix after the outage going into christmas eve on social media. they were calling it no flix. and to blame amazon web services, which is one of their huge growth engines. a unit of the company they say is probably a tenth of its eventual size. >> one of the highest growth parts of amazon right now, the web services portion. their amazon is down 1.25%. i don't know if that's the reason. but it was the streaming center in northern virginia that was the source of the netflix outage. it's resolved, th
have as in this for a while. i think there is always china, europe, and the congress that can miss this up. i think it is hard to stop this recovery. we have done everything we can to do it. we can do it again if we try hard. i think we will not succeed this time. >> we have not talked about the creation yet, which polling showed is a major concern for americans. for the long-term unemployed who have been left behind a little bit and then to the economic recovery, do you feel like the president and congress is doing enough to address the problem? what politically and realistically could be done in the next four years? >> i think the president is committed to this. i think he would like to see an extension of unemployment insurance. he would like to see it if possible an extension of the payroll tax cut. we just released a $4 trillion deficit revenue plan that calls for four and a billion dollars in short-term stimulus. we think there is a need for a infrastructure and roads and bridges. we think it has to happen sometime in the next 20 years. we have a situation with incredibly low
china and europe and japan are having major problems of their own. that could affect the way they do business with us. joining us is to talk about, ed, good to see you. biggest problem some of these governments to stimulate their economies, die let's just print a bunch of money. that has catastrophic events with them and even with the united states that may tried traded with them. >> that seems to be just to print money. that is not how it works. when somebody prints money, it's devalues their currency which makes anything they want to export or anything that they are importing more expensive. that is why your food is more expensive because we imported a lot of that. that is why energy is more expensive because we import a lot of that. if every country is doing that, its race to the bottom how quickly they can devalue their currency. >> we trade with so many different nations. we trade with europe and certainly with china. look at our trade imbalance and you can figure that out. europe has only a handful of countries that are doing decently? >> there is about six. they are in the nor
pods losing market share. iphones just not doing that well in china. there it is. back in the green. let's take a look at the major market averages. the dow jones industrial average is up. the nasdaq is also in the green, as well as, the s&p 500. daaen: thank you. connell: dan had injured reporting that he will be leaving his post next month. >> the opportunity presented itself. this was the moment to either take this job or not. i think he felt with the senate transitioning into a new year this was the moment to make the move. he took it. connell: it would have been a six year term. this is early. >> it is a reflection of the frustration. i think it probably would have won the election, maybe this would not have happened. now, with what we have seen, with the fiscal cliff, it is virtually impossible. i think that senator demint can do more running the heritage foundation the way she would like to rather than sitting in the senate. dagen: does this also speak to him resigning from the senate, the power of the tea party, perhaps? >> i do not know it is the waning power of the tea party. i
not create any jobs. as far as china is concerned we do not hit that high of a tariff on their imports. i believe it is a lot higher. the whole thing was steve jobs. he treated the apple computer in his garage. when he got successful theme of his company over to china giving chinese people jobs. if steve jobs was born in china he would not even be able to create the apple computer. we just do not do enough for the people of this country. the people who are position to create jobs do not reinvest in the country. i do not think they should get tax breaks. if you want to give these corporate giant tax breaks given to those who want to invest in the country and create jobs. for a lower than the american businessmen. guest: i understand your frustration. part of it is the corporate tax .ode clearly needs to fix it a lot talk about fixing a and a revenue neutral way. it does not help lowering future deficits any easier. there are some things need to change. in general we need to realize that if we set our country on the bike path making the right investments in -- the right path making investme
and china open and australia only half a day. so you will get a muted response, but don't for get that we have really got one more day of this, right. there is not going to be a deal tonight, because it is not dramatic enough, and they have to let it go another day, and the markets might get a little bit of a breather, but trust me, as tomorrow goes, and as trading get starts and the day wears on and appears that we are getting nothing, you will start to see the pressure on the market as we move into the end of the day. like i said on the prior show, if we get a band-aid, that is worse than getting actually letting us go over the cliff. >> why? >> because i think that if we go over the cliff, then there is clarity and everybody knows what happens, taxes here and spending there, and the only thing that can happen after that is that it can improve because the legislators will talk about cutting the taxes and raising the spending and standing up to say, what a great job we did and pat themselves on the back. if we get a band-aid, all we have done is to cause more confusion and kicked the can
would be short yen and long japanese stocks. >> people watching not just january but china. ir ir ir iron oar a lot. >> let's get more insight from steve from web bush securities. how much of a nail biter is this for you in terms of fiscal cliff and the markets? >> i think pretty clear at this point that if there's a deal coming, it's gonna be coming very, very soon. i think the markets discounted the fact we are going to get some sort of deal t has held up fairly well here and i think if we don't get a deal, we will see a selloff. i don't know how considerable, but certainly see the 2, 3% decline in the market. >> does it amaze you, steve, that the markets, in your view, still consider a given that we are going to reach a deal? here we are thursday, december 27th. they still haven't issued a 48-hur notice for congress to return to capitol hill and yet you're saying the markets have baked in some sort of deal? >> yeah, i think so. i don't in he isly think the deal happened december 31st. if we pass waite without a deal earthquake the market will think something is going to happen in
. they're probably going to succeed. some people are saying that china is also reinflating and they had a soft landing. then what about europe? i've seen some people touting europe. if you look at the financial fear indicators in europe, that crisis is basically over. >> well, yes, it is. i don't know if you can capture in the frame on the camera. what i'm doing here, i'm patting myself on the back. who is it who's been telling your viewers for two years every time there's one of these trumped-up crises in europe to buy it. now there's been a solution. europe has been stabilized. it's actually the brightest place for investors on the planet. i'm sorry you missed the bottom but it's not too late. you look at after hearing that segment on the u.s. government making the decision to debase paper coins by turning them into -- paper money by turning them into junk disposable paper coins? well what would you rather own? the ten-year american bond, treasury bond yielding what, 1.6%? or would you rather have a spanish bond denominated in the strongest currency in the world, the euro, paying 5.5%
opportunities in russia and new jobs here at home. our competitors in china and canada and europe are not taking advantage of these opportunities because they have pntr with russia, they already have it. we are the only w.t.o. member missing out on these opportunities. if we now pass pntr, we can level the playing field and compete, and if we compete we will win. we sell more beef, we sell more aircraft, we will sell more trademarks, we will sell more medical equipment and our banks and insurance companies will grow. pntr will give our knowledge industries greater protections for their intellectual property and our farmers will have new tools to fight unscientific trade barriers. if we pass pntr, american exports to russia are expected to double in five years. this bill has strong enforcement provisions to help ensure that american farmers, ranchers, businesses and exporters get the full benefit of pntr. and this bill has strong human rights provisions. senator cardin's magnitsky act punishes human rights violations in russia and helps to address the corruption problems russia now faces. in july
, engineering, and math. if you dig in, the numbers are stunning. you look at the fact that i think china is now roughly 44% of their graduates are in those fields. europe is at 24%. america is at 16% of our graduates. i say this respectfully, knowing we are on c-span, but when the europeans are outdistancing us by 50% in an area as important talent inng human challeng these key fields that will drive innovation, you know we are in trouble. i will correct one comment, the democratic side and marco rubio and jerry moran, we have put forward legislation long before the election that says let's look at this, the competition issue and put forward an approach that many of us, including those of us in the business world, have been talking about for decades. let's recognize that while we know that we do need to prime the pump with science, engineering, math graduates, native-born americans, partly in the numbers with middle school with girls and children of color and the enormous challenges short and long term, we also have to still continue to attract talent from the world. one of the ways that we can
to feel the effects of the global, of the downturn in europe. china, cutting its growth forecasts, india doing the same. the last thing anyone on the world stage needs right now is for the u.s. to start sliding back into recession. but you know, let's be clear here. that's, that would take some time. there would still be time for some kind of a deal. but it's the uncertainty that is really driving everybody's nerves in all of this. it's going to affect commodity prices in countries like brazil. countries like russia, everybody is in this together. waiting to see what happens up there. >> you're absolutely right. we're going to be watching those international markets to see how everybody is reacting. it's this whole big chain, jim, thank you for that back home, the senate is still trying to work towards a deal as jessica just told us, senator harry reid earlier said that he is in fact hopeful about reaching a deal. listen. >> with 36 hours left until the country goes over the cliff, i remain hopeful but realistic about the prospects of reaching a bipartisan agreement. at some point in the
europe by a long shot, and we're seeing slowing in a lot of other major economies, including china, india, brazil. is there some sense that, just like the u.s. set off all of this nonsense back in 2008, a u.s. retrenchment, as you call it, a slowdown in growth caused by the fiscal cliff, could boomerang around the world and actually push the united states further back? >> there's no question. a self-defeating, downward spiral would begin if the worst effects of the fiscal cliff come into effect, and they're not reversed. and you don't even have to wait for the full magnitude which would, as you rightly know, ali, it's not a cliff, it's a slope. it's an ever-increasing slope over several months. you don't even have to wait long. you've only got to see what would happen when the social security withholdings start increasing, the withholding tax starts to move up. then you see that boomeranging effect we talked about. >> you and i have made fun of a lot of the europeans who have not been able to get their act together. when you look at the united states, who's messing it up more? >> it is --
on policywise in japan and the whole trade. fascinating to see china hit a few weeks post leadership changes, first time this year the markets had more than 10% rally there. and the signs of europe's issues being if not resolved, certainly more minimized in terms of stress. so i think we're going tothz a lot clearer signs of powerful rallies coming from the rest of the world in 2013 which will make it somewhat different than 2012 and to some extent the previous two years, as well. >> joe is down in washington wauchg all of this first hand and i know he has a question for you, as well, jim. >> feeling all the different things coming in. >> that must be a real challenge for you being down in d.c. how did you get that straw? >> yeah, it is. i can take it for about 24 hours. i am feeling a lot of what's happening. and in the last 2 1/2 years or so, the poisoned atmosphere down here just to try and do anything is becoming really apparent. we put the sequester because it was so hard to try and do anything last time to force us, now we're not really inclined to do it again. my question, even if we
know that we compete in the global economy. when we look at the tax policies of japan, china, brazil, other people we're competing for in a global economy we need to keep those rates low. keeping the rates low encourages businesses to commit long-term capital signatures, grow jobs, and grow personal income. >> i know you're a, you know, i know you're a giver, give, give, give. all you're worried about are your investors. what about southern company? why are you so on the dividends -- how does it affect southern company what happens with dividends and capital gains? >> well, it impacts southern as it impacts every other company in our industry. you know, when you think about the electric utility industry, we are a low beta kind of industry. we are low risk and typically we have a relatively attractive dividend yield. the general formation of return to investors is about 50% dividend yield and about 50% growth and earnings per share. so it's critically important for our industry which interestingly is one of the great contributors to employment growth and variety of other things. we sp
a factory in china and sell cars. they can delay paying u.s. taxes on that indefinitely. but the money comes from the rent, as so-called passive income, they have to pay taxes on that immediately. this provision says if your a bank -- you can be late paying your taxes. it is going to be considered active income. it is quite valuable to them. it is kind of a gray area. in 1986 when they did big tax reform, they said that is active income and we should tax that money. host: we have been talking with sam goldfarb from cq roll call. thank you very much. >> explores the history and literary culture of all money -- of albany. tonight on c-span, a senate debate on the fiscal cliff. shaun donovan discusses it. harry reid and mitch mcconnell when back-and-forth on fiscal cliff issues and a proposal to raise the debt ceiling. here is part of their exchange. >> yesterday afternoon, i came to the floor and offered president obama's proposal on the fiscal cliff to show that neither he nor democrats in congress are acting in good faith in these negotiations. with just a few weeks ago before a potentially
Search Results 0 to 16 of about 17